According to a recent market study published by Growth Market Reports, titled, “UK Fine Art Market” by types, by distribution channels, by age groups, and by end user: Size, Share, Trends and Opportunity Analysis, 2015-2030”, the market was valued at USD 2,238.4 Million in 2021 and is expected to grow at a growth rate of 16.5% by the year 2030.

As per Growth Market Research Reports industry analyst Apurva Shinde, “UK Fine Art Market is anticipated to witness significant growth during the forecast period 2022-2030. Key players in the UK Fine Art Market increased their focus on fine art as it is considered as investment by many consumers. This factor is anticipated to boost the UK Fine Art Market during the forecast period.

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Fine art encompasses different activities such as drawing, painting, sculpture, architecture, and photography. Fine art consists of art markets, suppliers, and buyers of works of art exchange cultural objects such as the market for contemporary art. The objects are directly supplied by the artist, who sells them out of his studio or through a gallery. Suppliers in the antiquities market are private collectors or public institutions who want to sell these pieces and works of art by deceased artists.

Fine art includes those art forms whose primary characteristic is beauty rather than practical use, such as painting, sculpture, drawing, prints, and artistic photographs. Visual art is a collective term for fine art, architecture, and decorative arts (useful objects with aesthetic value such as glassware, furniture, and textiles).

Art is the process or product of intentionally arranging objects in ways that influence and affect the senses, emotions, and/or intellect. Art includes an extensive scope of activities, creations, and forms of expression. The art industry consists of art galleries as well as art auction houses that engage in the sale of limited edition and original works of art. These companies buy artwork either from the artist or from an individual owner and then proceed to sell the art to consumers.

The primary, as well as secondary research methodology, is used for keen observation and study of the UK Fine Art Market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews were conducted with the stakeholders across industry verticals at regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, and current and future trends done by the key opinion leaders (KOLs).

These KOLs are the CXO level people from leading companies in the industry and possess experience of around 10-20 years in the industry. On the other hand, the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs.

Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases were analyzed for macro & microanalysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The COVID-19 pandemic has highlighted economic disparities in the global demand in the crises of global interdependence and governance challenges. Epidemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. According to the current pandemic situation, strict measures are required for monitoring the situation, which in turn, affects businesses causing unanticipated short and long-term effects. Consequently, epidemics and pandemics are problems for the individual market and an enhancement of existing dynamics and limitations.

In the long term, COVID-19 can serve as another opportunity for manufacturers to reconsider their commitment to the supply chain in regions prone to outbreaks and to reconfigure themselves regionally. In the current scenario, the manufacturers recovering from COVID-19 which has hampered the production process of several manufacturing industries and businesses. Moreover, trade barriers during covid-19 have further reduced the demand-supply of various products and services.

Key Takeaways from the Study

  • The players include Fabulous Masterpiece, EAMES FINE ART, Hancock Gallery, Haynes Fine Art of Broadway, Chantry Fine Art, ADDIS FINE ART, Robert Perera Fine Art Ltd, Tindalls the Stationers Ltd., Castle Fine Art, Halcyon Gallery.
  • On the basis of type, the painting segment is expected to expand at a CAGR of 19.4% rising demand for wall decoration in various applications such as residential, commercial, and industrial which increases the demand for the painting.
  • Based on distribution channel, the offline segment is expected to expand at a CAGR of 17.9% during the forecast period. The rising number of websites and offers on online art such as sales, loyalty programs have increased over the last few years. Online sales reach a large audience, especially a young clientele, which is comfortable buying online.

Report Scope

Report Metric

Details

Market Value in 2021

USD 2,238.4 Million

Market Growth Rate (from 2020 to 2030)

16.5%

Historical Data

2015 & 2020

Base Year

2021

Forecast Period

2022 – 2030

Units Considered

Value (USD Million)

Market Segments

By types, by distribution channel, by age groups, and by end users.

Key Companies Profiled

Fabulous Masterpiece, EAMES FINE ART, Hancock Gallery, Haynes Fine Art of Broadway, Chantry Fine Art, ADDIS FINE ART, Robert Perera Fine Art Ltd, Tindalls the Stationers Ltd., Castle Fine Art, Halcyon Gallery.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Art Manufactures, Art Dealers, Others
  • Demand Side: Consumers, Art Collectors, Others
  • Regulatory Side: Concerned government authorities, and other regulatory bodies